Billionaire Mario Gabelli Lays Out 5 Finance Stocks That Should Get a Trump Boost

#3 Northern Trust Corporation (NASDAQ:NTRS)

– Shares Held By GAMCO Investors (as of September 30) : 1.03 Million

– Value of the Holding (as of September 30): $70.01 Million

Moving on, GAMCO Investors reduced its stake in Northern Trust Corporation (NASDAQ:NTRS) marginally, by 3,075 shares, between July and September. Northern Trust Corporation (NASDAQ:NTRS)’s stock was already trading in the green for 2016 before the elections results were announced. However, the gains it has registered since then have helped it to reach $83.09, its new all-time high since the financial crisis. According to most analysts who track the stock, it is currently trading at an expensive valuation and can see a correction going forward. The stock currently sports an average rating of ‘Hold’ and an average price target of $74.62 from 18 leading analysts on the Street, which suggests that it can see a downside of more than 8% from its current price.

#2 State Street Corp (NYSE:STT)

– Shares Held By GAMCO Investors (as of September 30) : 1.57 Million

– Value of the Holding (as of September 30): $109.23 Million

Amid a 27% rise in State Street Corp (NYSE:STT)’s stock during the third quarter, GAMCO Investors reduced its stake in the financial holding company by 3%. State Street Corp (NYSE:STT) lost a chunk of its market cap during the first half of 2016, but managed to recoup the losses and its stock is now trading up by over 18% year-to-date. The company has managed to beat analysts’ earnings expectations for the past four quarters and most analysts who cover the stock think that this trend will continue in the future. On November 14, analysts at Morgan Stanley upgraded the stock to ‘Equal Weight’ from ‘under Weight’ and also upped their price target to $84 from $64, which suggests a potential upside of 7% from its current price.

 #1 Bank of New York Mellon Corp (NYSE:BK)

– Shares Held By GAMCO Investors (as of September 30) : 5.94 Million

– Value of the Holding (as of September 30): $237.06 Million

Although GAMCO Investors’ reduced its stake in Bank of New York Mellon Corp (NYSE:BK) by 3% during the third quarter, the investment company remained the fund’s largest holding at the end of September. Bank of New York Mellon Corp (NYSE:BK)’s stock saw a phenomenal run between 2012 and 2015, but was range-bound for a long time in 2016. In the last few weeks it has again resumed its uptrend and is currently trading 15.09% in the green year-to-date. Earlier this month, the SEC has sent subpoenas to Bank of New York Mellon and four other depository banks over allegations that they have been mishandling securities in the ADR (American depositary receipts) market. On November 21, analysts at Buckingham Research downgraded the stock to ‘Neutral’ from ‘Buy’.

Disclosure: None